Expected DA for Banker from Feb 2020 Minimum 36 point and Maximum 45 piint

Expected DA Calculation Updated on 31.12.2019 on the basis of CPI announced for the months of Oct'19 & Nov'19 (there is an increase of three points (7486.89) & assumptions for the month of Dec'19 as under:-

1. On assumptions if there is an increase of one point of CPI for the month of Dec'19. In this situation the expected (tentatively) increase in DA Slabs would come to 41 slabs and the total tentatively revised DA slabs would be 758 i.e. 75.80%.
2. On assumptions if there is an increase of two point in CPI data for the month of Dec'19. In this situation the expected (tentatively) increase in DA Slabs would come to 43 slabs and the total tentatively revised DA slabs would be 760 i.e. 76.000%.
3. On assumptions if there is an increase of three point in CPI data for the month of Dec'19. In this situation the expected (tentatively) increase in DA Slabs would come to 46 slabs and the total tentatively revised DA slabs would be 763 i.e. 76.30%.
4. On assumptions if there  is decrease  one CPI data to be announced in Jan'20 for the month of Dec'19  In this situation the expected (tentatively) increase in DA Slabs would come to 39 slabs and the total tentatively revised DA slabs would be 756 i.e. 75.60%
5. On assumptions if there is an increase of two point in CPI data for the month of Dec'19. In this situation the expected (tentatively) increase in DA Slabs would come to 36 slabs and the total tentatively revised DA slabs would be 753 i.e. 75.40%

PNB OBC UBI WHAT WILL BE THE STRUCTURE AFTRR MERGER

Dear All,
Today the Board Meeting of PNB was held in our HO. In the sideline of the  meetings, Sri S S Mallikarjun Rao, MD & CEO, PNB kindly addressed all the CRMs (of UBI) in the presence of our EDs, after finishing his interaction with the GMs and DGMs at HO. He discussed the contours of the amalgamation process and the key takeaways from his speech were -
1. The 34 Committees headed by the GMs of all three banks have furnished their recommendations to the anchor departments of PNB. Further finetuning and formalisation will take place during Jan'20.
2. The amalgamation involves integration in 5 aspects- business, processes, policies, technology & HR.
3. In respect of business and processes, the best of the 3 will prevail. Policy formalisation will be largely a harmonisation process of the policies of 3 banks  while technology integration will be milestone based which will complete fully by Mardh 21. CBS integration will be effective from Day 1 i.e. 01.04.20. In order to pre synchronise, an interim application having interface with CBS of all three banks is proposed to be launched in Jan'20 whereby the customer of any of the 3 banks may approach any of these banks and do his transactions. Users at branches shall have access to the Finacle of the other banks through the interim application.
4. Business have to be protected at any cost. The business between the 3 banks should not move out beyond the 3, come what may. Even if some Bank is successful in weaning away our customers by misleading them, we should be in a position to counter by taking 10 customers to that Bank...that should be the animal spirit of doing business which is desired.
5. Customers should be convinced that the services are maintained at same level at least, to start with, and gradually improved therefrom.
6. HR being sensitive area is two dimensional - quantitative as well as qualitative. As announced by the GOI, all  employments, cadres, seniority and salaries shall remain protected while the perquisites are going to be the best of the 3. The promotions shall be done by the parent banks in all scales while posting upto Scale IV shall be done by the parent bank within 31.03.20. For Scale V onwards the posting shall be done by the merged entity.
7. The vertical structure shall comprise of HO, ZO/ZHO, Circles and branches. 3 Banks together, there are roughly 163 Circles or Regions. The count should remain 163 or even more, while the geography shall have to be mapped according to the presence of the circle/ Regional offices of all 3 banks. Likewise there are 19 ZOs at present which may be kept or increased. ZOs shall be bifurcated between ZOs and ZHOs based on number of branches controlled. ZOs will be headed by GM and ZHOs by CGMs. ZOs and ZHOs are going to be parallel hierarchy reporting to HO.
Similarly count of branches shall also remain constant, but shall be subject to geographical rearrangement based on mapping of branch locations.
8. There will be Large Corp Branches (Rs.100cr. & above), Mid Corp Branches (Rs.10 to Rs.100cr.), SME branches, Agri branches and HNI branches.
9. The branches will be supported by robust processing centres. These processing centres should be taking care of cluster of branches. There will be a customer acquisition processing centres and grievance handling centres. Grievance handling centres shall be located at ZO and ZHOs.
10. If the head of a business unit belongs to a particular bank, their deputies will be from the other two banks. This will help to attribute familiarity to customers as well as employees and protect the cultures of all three organisations. The same rule is going to apply to processing centres and grievance handling centres.
11. The merged entity will be having a large pool of officers who are going to be under 30. The management envisages an enormous potential in them. In order hone up their skills the concept of horizontal leadership is coined, which basically emanates from the concept of Job Families. Going a step further, officers within 30 are to be identified as Digital Ambassadors, officers between 30 and 40 as process ambassadors - and in the process all these young officers shall get the chances of leadership and competency development within their job families.
12. Scope of training shall be abundant. At first the trainers training will take place in Jan'20 which shall be followed by localised training. Thereafter need based specialised training will commence. Training calendar shall begin from Jun every year so that the training happens after promotion and posting each year. For officers of scale V onwards an arrangement is being made with NIBM for competency mapping.
13. To start with, endeavours shall be made to keep the leadership position unchanged as much as possible unless one has finished his/her tenure in a particular leadership role as per their bank's extant policy.
14. Among the 10 amalgamating entities, our combination is having the largest manpower share - 9.4 per branch. This is going to take care of all your grumbles against the RO and CRM, I presume.
14. Regarding name/ logo of the new entity, the decision will be taken post the detailed notification in this regard by GOI which is expected in Jan'20. If any change is warranted, best of the agencies shall be engaged to protect the identity of all the banks.
15. Shri Rao has asserted emphatically that there is not going to be any dearth of growth opportunities for the performers in the merged entity. The Bank will take care of the performers and performances.
16. DP shall NOT be the aggregate of DPs of the 3 banks. They will be worked out based on the risk appetite framework of the  new entity. Thereafter the rates and charges will be worked out. These will be informed well in advance.
17. All the existing tie ups e.g. with SREI, Atyati, KBasics shall continue beyond 31.03.20 till further notice.
18. Regarding Bancassurance, the other two banks are having JVs which are going to get priority followed by other partners based on regulatory guidelines/ forbearance. As of now in our case the present arrangements shall continue till further notice.

These are the basic ideas which he was kind enough to share with us.
You can very well understand that merger of this scale always remains an evolving process, which may undergo change at some point or other till its completion.

I hope this enlightens all of you about the concept, philosophy and progress of our amalgamation with PNB and OBC.

Thank you,

Who will compensate one day salary loss to Deprived Bankers????

#Again_no_seriousness_for_Wage_revision...

5 Unions AIBEA, AIBOA, BEFI, INBEF and INBOC going  on strike(08-01-20) supporting  the call given by Central Trade Unions viz. INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF and UTUC, for implementation of  Minimum wage formula all over the nation.

But these unions will never fight for Parity in wages  with in Banks???
@11th Bipartite Settlement...

Be fooling deprived Bankers/members ...
Left Parties guided strike... 👎👎👎

Who will compensate one day salary loss to Deprived Bankers????

Public sector bank unions decide to join national strike called on Jan 8

Bank unions have decided to join the national general strike which has been called on January 8, 2020. The strike has been called in protest against the central govt's labour policies and banking reforms, said the unions.

Central Trade Unions viz. INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF and UTUC along with various independent Federations and Unions in different Sectors have given the call for national general strike on January 8, 2020 to protest against labour policies of the government.

The demands include, price control, creation of more jobs for unemployed youth, guaranteed right to job, right to wage, job security, end of outsourcing of permanent jobs, no adverse amendment of labour laws, and no curtailment of trade union rights. The unions have also demanded a minimum wage of Rs 21,000 with no weakening of social security schemes.

Workers from both the organised and unorganised sector are expected to participate in this strike.

In the banking sector, the call has been jointly given by 5 Unions; AIBEA, AIBOA, BEFI, INBEF and INBOC. In addition, employees of RBI, co-operative Banks, RRBs, LIC and General Insurance sector are also joining the strike. Workers from various other sectors like defence production, steel, oil, coal, railways, ports, road transport, teachers, and other government employees etc. have decided to join the strike, said C H Venkatachalam, General secretary, All India Bank Employees' Association (AIBEA)


"In the banking sector, we find that the Government’s policy is privatisation and unwarranted merger of nanks despite our vehement protests. On the other hand, the main issue of recovery of corporate bad loans is being ignored and concessions are being given to them while service charges are increased for the common people," he said.

Pension Updating Finally good news is expected to be announced shortly.

Pension Updating
Finally good news is expected to be announced shortly.

It seems, IBA has come down admitting funds requirement for updation to Rs.6300crs and realised that their earlier claim of Rs.95000 crs. was exorbitant and arbitrary which seems the Govt./ F.M. also admitted and realised that retirees updation cannot be denied and have to be granted. Let us hope something good is done at last. Perhaps a good news is flowing finally for the retirees.
Forwarded as received

AIR, BSNL, BPCL, are going sell what are the original readon behind it????

1. Air India Bechna hai Kyuki Profit me nhi hai
But Profit me na aane ki asli wajah hai Non profits sare route pe Air India ki Udaan
2. BSNL Ko Private thatho me Dena hai Kyuki Profit kam aa raha hai and salary employee ki jayada hai.
But Profit me na aane ki asli wajah hai BSNL Ko 4G spectrum na Dena issue uski income khatam ho gyi
3. BPCL Ko Private karna hai Kyuki usse achcha Sara profit GOI Ko aa raha hai MAGAR wo Private body ko aana chahiye hai naa
But bhechne ki asli wajah to ye hai ki hame bas paise chahiye instantly chahe Ghar baar bike.
4. Indian Economy me slowdown hai log soch samaz Kar kharid Rahe hai #demonatizaion Notebandi sabse badi wajah MAGAR Jo beet hi gya uska kya
But Asli wajah Jo ab  hai Govt services and Private jobs ki Bhari kami 1 Govt job aap ek Ghar me dete hai to automatically Family ki purchasing power boost karti hai and log kuch kharidenge tabhi to industry kuch banayegi or logo ko rojgaar milega overall family me stability aayegi.
Olla Uber se automobile sector down hai,
Hamari family me Onion ka jayada mahtav nhi hai,
India ke road jam hai issue kah sakte hai ki automobile sector achcha chal raha hai,
Bla Bla Bla Bla ye sare guru Gyan Dene ki bajaye Apne desh ke logo ko vishvaas me lekar lower and middle class ke liye kadam uthane chahiye na ki Akela corporate tax kam karke.... Corporate tax 25% Employee Salary tax 30% Batao
5. Gst ke Rates world me apne sabse jyada
Abhi bhi unlimited loop holes in GST Tax
Agar GST ki chori rok paye to shayad 8% tax bhi kafi Rahe
6. Shayad Banks ko bhi private karne ki tayari Jaisa ki akhbaro me har Roz aa hi raha hai kyu profit kam aa raha hai
Ab ye koi Bataye Jab karni sewa hi hai to Kya koi private dukaan Garibo ki Seva Kar payegi Kya
Kon sa Private Bank kholega
1. Free me Garibo ke khate
2. Garib chote jamidaaro ka Loan
3. Sari Sarkari scheme Garibo Tak pahuchana like PMSBY, PMMY, PMFBY, ETC
 Govt bank are currently backbone of Poor and Middle class by Financing them and enrichment of India by Financing money to others from their Honestly earned money.
Each and every Govt bank is in huge Profit if we not Include Corporate Loans , BADE LOGO KE LOAN in Govt Banks then why we panalize Govt Banks employee for the same.
Work culture as a whole should be improve.

Kul mila ke Baat ka nichod yahi hai ki agar Ghar me bure din chal Rahe hai to Iska Matlab Ye Nhi Hai Ki Hum Apna Ghar Hi Bhech De or Kiraye Pe Rahne Lage
Kuch Ghar Walo Pe Bhi Yakeen Karo, Kuch Kudh Pe Bhi Karo Or ye Bechna Ya kahe Bachkana kaam band Karo..Nhi to Desh me Sarkaar ke pass kuch nhi bachega or Desh Chalayenge UPER Baithe Kuch ek
Corporate

From surendra kumar saini,'s wall

EVERYTHING BANKING NEWS FOR LATEST BANKING NEWS

After amalgamation of PNB, OBC, will have a new name and logo and Punjab National Bank will be the anchor b

Amalgamated entity of 3 PSBs to retain sovereign status: UBI chief

Press Trust of India | Kolkata | Last Updated at December 07 2019 22:51 IST

Alleging that some private banks were trying to mislead a section of depositors of the three state-run banks which will be merged into an entity by telling them to shift their deposits, a top UBI official on Saturday said that the proposed amalgamated lender will retain the "sovereign status".

In the biggest consolidation exercise in the banking space, the Centre had announced that the United Bank of India and Oriental Bank of Commerce would be merged with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

Speaking to reporters here, United Bank of India MD and CEO Ashok Kr Pradhan said that the "sovereign status of the amalgamated entity will not be diluted as government holdings in these banks are very high".

The merger of the three PSBs is scheduled to come into force from April 1 next year.

"There are some vested interests. Particularly, some private banks have been spreading rumours by posting their agents in front of some branches and telling the depositors to shift their deposits as these (public sector) banks will be closed down", Pradhan alleged.

He also said some groups have been trying to launch a "misinformation campaign to scare the depositors" so that they shift their deposits elsewhere.

"There is no cause for worry and money with our banks is fully safe and secured," he said.
Regarding the progress of the amalgamation process, he said it is "going on smoothly" and 34-odd committees, formed by the three banks, would submit their reports by the end of December.

The amalgamated lender will have a new name and logo and Punjab National Bank will be the anchor bank, he said.

Corp Bank trade unions fear closure of branches post-merger

United Forum of Corporation Bank Unions (UFCBU) has expressed concern that the proposed merger of Corporation Bank and Andhra Bank with Union Bank of India will lead to the closure of many branches of Corporation Bank in some states.

Addressing presspersons in Mangaluru on Friday, Satish Shetty, General Secretary of Corporation Bank Officers’ Organisation (CBOO) and office-bearer of UFCBU, said Union Bank of India has more than 900 branches in Uttar Pradesh and Corporation Bank has around 350 branches in that state. Considering the concentration of Union Bank of India in U.P , many of the branches of Corporation Bank are likely to face closure in that state, he said.

Similarly, Andhra Bank has around 2,000 branches and Corporation Bank around 450 branches in Telangana and Andhra Pradesh states. The proposed merger may lead to the closure of many branches of Corporation Bank in these two states also, he said.

Such closure of branches will not help the existing customers of the bank in those branches. Quoting the examples of the merger of associate banks of State Bank of India (SBI) with it, and the merger of Vijaya Bank and Dena Bank with Bank of Baroda, he said many of the customers of these banks, especially senior citizens, are facing problems because of the closure of the branches in their vicinity.

Referring to the government programmes such as Pradhan Mantri Jan Dhan Yojna and farm insurance scheme, he said the government could implement these schemes because of the wide network of branches of public sector banks across the country. The closure of branches post-merger may not yield the desired results in the implementation of various government schemes, he said.

Though the country had around 8,000 branches of various banks prior to their nationalisation, the number crossed 30,000 barely 10 years after that. Such an expansion of branch network helped take the banking services to vast majority of people in the country, he said.


Vincent D’Souza, Convenor of UFCBU, said that all the trade unions of Corporation Bank will stage a day-long protest under the banner of UFCBU in front of the head office of Corporation Bank in Mangaluru on Saturday. Various noted personalities from coastal Karnataka will lend their support by participating in the day-long protest, he said.

Wage revesion talk as 5th December 2019

Harassment of Dena Bank and Vijaya Bank Staff*by BOB Management

*Harassment of Dena Bank and Vijaya Bank Staff*

It has come to the notice that *Bank of Baroda management is harassing Dena Bank Staff* in all the possible ways. . *False allegations/  explanations, charge sheets are a common practice.*                                                       Humiliating attitude of Higher Ups has started taking its toll.                                  Due to harsh attitude may officers including scale 1 to 5   has already submitted there papers, Now,  BOB management has start issuing Show cause  to DGM level officers.
*We need to protest and support the DENA BANK STAFF, OTHERWISE WE WILL ALSO BE TREATED IN SAME WAY.                                          SPREAD THIS PROTEST MESSAGE TO ALL OF YOUR BANKER CONTACT AND GROUP.*🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻

BRIEF HISTORY OF BPS to UNDERSTAND for your pension

Forwarded Message Pension issues
......
Dear Retirees  friends,. 

BRIEF HISTORY OF BPS to UNDERSTAND THE FACTS

7th BPS
In 7th BPS for the period 01.11.1997 to 31.10.2002,

(a) the DA upto 1664 points was merged with the Basic Pay
(b) But for the purpose of payment of pension, merger upto 1616 point was
considered,which resulted in lower basic for the purpose of pension calculation.
The pension of the employees retired from 01.11.1997 till the date of settlement
(11.03.1999) was reduced from 50% to 41% due to above illegal settlement.

All the employees who retired during 01.11.1997 till the date of settlement
 were paid the revised pension from the date of settlement. ie 2000
They were denied the arrears of revised pension. They were forced to give
undertaking that revised pension will be paid if they agree not to claim the
arrears of pension and revised commutation.

8th BPS
The 8th BPS for the period 01.11.2002 to 31.10.2007
 8th BPS was signed in 02.06.2005.
The employees retired during 01.11. 2002 til the date of signing of
settlement ( i.e. upto July 2005) were denied the arrears of pension and
commutation as happened in 7th BPS.

 7th 8th & 9th BPS
UFBU agreed to share the incremental cost of pension since
7th BPS    total  16.5%   ( 8.25% from employees + 8.25% from  Management)
8th BPS    Total  18.5%   ( 9.25% from employees + 9.25% from Management )
9th BPS    Total   26%     ( 13% from  employees  + 13%  From Management  )

DO YOU KNOW THAT THIS INCREMENTAL COST WAS RECOVERED FROM THE EMPLOYEES AND SAME AMOUNT FROM THE MANAGEMENT BUT MANAGEMENT SHARE HAS NOT BEEN DEPOSITED IN THE PENSION FUND TRUST.

The Some Bank management stopped depositing 10% of basic pay
each month in the pension fund as per pension regulation. They are
manipulating the Actuarial valuation report and accordingly depositing there
share (lower amount) on quarterly/ half yearly/ yearly basis.

It is  the responsibility of the Unions to ensure that the incremental cost of
pension, so agreed, has been deposited in the pension fund, but leaders are not
 interested to care the retirees FUND

The Bank not deposited 10% statutory contribution every month as on 31.03.2010.  As per annual report from the website.
In fact Bank withdrew Rs 57 cr from pension fund to boost the profit to 3058 crore in March 2010.
The bank has deposited employer contribution to pension
 Rs 472  crore during 2008-09
 Rs 365  crore during 2007-08 
 Rs  NIL           during 2009-10
 How the employer contribution can be Nil during 2009-10.?

 The list of PSB not deposited the statutory share in pension fund is very long which includes SBI + Groups and  PSB, United Bank, UCO Bank, Central Bank Union Bank. Central..................

 It is diversion / loot of employees retirement funds to boost the profits.  The amount involved is more than one lac crores which has been laundered since 01.11.1997.

 RBI allow amortization of pension cost/fund  to boost the banks profit and used 19611.57 coroe from the banks pension fund and returned in 5 Installments.
Why the banks have not deposited this 19611.57 cr in one installment.
Is it not a loss to the pension fund?.
The 9% average return on pension cost of Rs 19611.57 will add to pension kitty
by 1765.04 cr per year.). Loss of interest of Rs 1765.04 cr to
pension fund is equal to 40% of wage rise offered .

***The interest loss to the Pension Funds for retirees due to the amortisation of Pension cost of banks over 5 years in the IXth BPS, high loss of interest to pension fund.
It is an act of --misappropriation of pension funds at the corporate level .***
Other words we can say Maha LOOT on Pension Fund.

10th BPS
10th settlement signed with IBA, UFBU has agreed that DA upto 4440 index
point i.e.60.15% will be merged and Basic plus 60.15% plus 2% amouting Rs
597 cr will be used to construct the scale, meaning thereby 102% of Basic plus
60.15% DA will be new basic.( 102% of old Basic + 60.15% of DA )

The remaining 13% they utilized as grade pay / spl.pay.
The grade pay /spl.pay ie near about 13% NOT COUNTED or ADD FOR THE PENSION PURPOSE,
GREAT GREAT 13%  LOSS TO THE PENSIONER WHO RETIRED ON OR AFTER 01-11-2012 .

Friends,  In Banking GM becomes ED, he is no longer a bank employees
but a Govt. nominee on the Board.    He is not governed by Bank employees
Pension Regulation. In fact he has to resign but his resignation is treated as
retirement and his retirement dues are paid. He is entitled to gratuity/ pension
leave encashment PF and other retirement benefits.
GM becoming ED is entitled for pension on his resignation but normal
employees resigning after -20- years is denied the pension.
So ED gets salary fixed by Govt. plus monthly pension.
Do you know that now ED/ CMD are getting -2- pensions. One pension from
parent Bank from where he was GM and 2nd pension of Chairman/ Executive
Director from the Bank he retired as CMD/ED.
Your pension fund is paying pension of ED/CMD and he has never contributed
incremental cost or 10% to the fund.

Dear Friends as you know that neither the bank Managements represented by the IBA  nor the unions represented by UFBU have been serious to resolve our burning issues despite our hue and cry through various forums.  In fact, they both have gone to the extent of saying that – we the retires cease to have any relationship with the employers and have no contractual obligations whatsoever and refused to have any dialogue with the organisations representing us for the redress of our legitimate grievances stated supra, vide their “Record Note” dated 25th May, 2015, which reminds us of the historical “Magnacarta” signed  by themselves , to leave our fates to destiny forever.

DEAR FRIENDS,
All above are facts based on past experience, the IBA and UFBU may cheat again so be careful and watchful. We think and feel that we are required to give a BIG BIG serious thought .
All above are for your information and knowledge under our knowledge sharing prog. 2018
JAGO FRIENDS  &
 अपने अपने नेताओं को भी जगायो ताकि 11 BPS मे आप सब के साथ धोखा न हो.
Thanks for sparing few moments for this.

Patanjali said it got loans of ₹1,200 cr from SBI,₹700 cr from PNB, ₹600 cr from Union Bank of India, ₹400 cr from Syndicate Bank and ₹300 cr from Allahabad Bank to buy RUCHI SOYA

Patanjali secures ₹3,200 crore loan from banks to buy 

• Patanjali said it got loans of ₹1,200 cr from SBI,₹700 cr from PNB, ₹600 cr from Union Bank of India, ₹400 cr from Syndicate Bank and ₹300 cr from Allahabad Bank
• Ruchi Soya went into the insolvency in December 2017: Baba Ramdev-led Patanjali Ayurved on Friday said it has already tied up loan worth₹3,200 crore from a consortium of lenders led by State Bank of India to fund its acquisition of Ruchi Soya through insolvency process.

In September, the National Company Law Tribunal (NCLT) approved the resolution plan of Patanjali Ayurved to acquire debt-laden Ruchi Soya.

"The company has already secured required total debt from a consortium of banks led by State Bank of India," Patanjali Ayurved Managing Director Acharya Balkrishna said in a statement.

Patanjali also said it has got loans of ₹1,200 crore from SBI, ₹700 crore from Punjab National Bank, ₹600 crore from Union Bank of India, ₹400 crore from Syndicate Bank and₹300 crore from Allahabad Bank.

Ruchi Soya went into the insolvency in December 2017.

NCLT had admitted the insolvency plea filed by two lead financial creditors Standard Chartered Bank and DBS Bank. However, later, Singapore-based DBS Bank became dissenting creditor and approached the National Company Law Appellate Tribunal challenging the distribution of proceeds from the bid submitted by Baba Ramdev-led Patanjali Ayurveda.

Ruchi Soya told the NCLT that resolution applicant Patanjali group will infuse ₹204.75 crore as equity and ₹3,233.36 crore as debt.

The amounts will be infused into a special purpose vehicle (SPV), Patanjali Consortium Adhigrahan Pvt Ltd, which will be later amalgamated with Ruchi Soya.

Another ₹900 crore will be infused by the Patanjali group through subscription of non-convertible debentures and preference shares in the SPV. It will also provide a credit guarantee of nearly ₹12 crore.

On April 30 this year, a committee of creditors had approved Patanjali group's ₹4,350 crore resolution plan to take over Ruchi Soya. Lenders will have to take a haircut of around 60 per cent.

Shailendra Ajmera of EY was appointed as resolution professional to manage the company's affairs and conduct insolvency proceedings. PTI KRH MJH HRS

Federal vank union againt bank managemet action

Dear friends,

Federal Bank is the largest first generation private sector bank in the country. This Kerala-based Bank has grown to this stature with the generous support of its 90 lakh valued customers. Combined with the hard work of the employees and the cooperation of the stakeholders, the bank's business reached a level of Rs 2,55,000 crore.

 In recent years, the bank's top executives, who came to the bank with profit-motive, are adopting a line  of approach that deals a blow on the expectations of ordinary customers, who love and trust the bank.

It is imperative that the Management has to change the policy of setting extremely high minimum balance in savings bank accounts of customers, imposing excessive service charges for banking services, and demanding heavy charges for cash receipts and payments over the counter. The management is extracting this money from the public for filling the coffers of the top executives by way of non-transparent benefits in the names of salary, equities, interest-free loans, joining bonuses etc.

There is no need of great wisdom to understand that when the management shifts their focus from the natural growth of loan portfolio through small and medium loans to ordinary people to abnormal growth through loans to corporates, it will reflect in the growth of bad loans too. We have many examples in recent banking history.

Federal Bank, based in Kerala, though a private sector bank, had been following people orientation like public sector banks. But now there is a concern that not only the Federal Bank will lose its mass banking character, but also the State will lose the bank, which played an important role in its development. Many of the major departments of the bank now operate from Mumbai. One Executive Director who is just below the rank of MD is stationed in Mumbai now. Another Executive Director, who had also been stationed at Mumbai and enjoyed unduly high benefits from the bank, suddenly resigned after three and a half years of service and migrated to Axis Bank. This migration happened just four months after the Bank's Annual General Body meeting had given him extension for another two-years. He was in charge of  corporate credit portfolio of the bank and had increased the corporate advances of the bank from Rs 16600 crore to Rs 55,500 crore within this 3 1/2 years. Now the news that the advances given to some corporates including Anil Dhirubhai Ambani Group (ADAG) are turning into NPA is causing anxiety.

Shri. Shyam Srinivasan, MD & CEO of the bank, who refuses to answer the questions raised by the employees and their organisation with regard to the shift from people-orientation to thrust on corporates, is attempting to intimidate the employees through threat of transfers. All the norms of justice and fair play are being violated. There is an attempt to destabilise the Union by transfering its Secretary to Tamilnadu in violation of the Transfer Policy Settlement signed between the Union and the Management under the ID Act forty years back.

Federal Bank employees have never been willing to give up their hard-earned rights. The history of the Federal Bank Employees' Union is replete with stories of fights and sacrifices made by them to earn and protect the rights. The new generation of Federal Bank employees, who are the inheritors of that history, are poised to perform their duty in the action field. Employees are forced to take to take up such a position, since the Management is not ready to resolve issues through discussions. We seek the support of our dear customers and the right-thinking and progressive people and working class and mass organisations in this struggle.

Protect Mass Banking!

Withdraw the extremely high Minimum Balance and Service Charges which drive away Ordinary Customers!

Modify Bank’s wrong Business Policies!

Stop action intended to curtail Trade Union Freedom!

Honour Settlements !

XI BIPARTITE SETTLEMENT* *Core Committee Meeting (Workmen)* held on 28 November 2019

*XI BIPARTITE SETTLEMENT*

 *Core Committee Meeting (Workmen)* held on
      28 November 2019

As decided during Main Negotiations Committee Meeting held on 15 Nov, '19 : Core Committee (Workmen) Meeting was held today at IBA Office, Cuffe Parade, Mumbai.

          *Discussions*

*1.*  Adoption of New Series of C. P. Index for D. A. calculation and formula for DA calculation to be decided during the next Main Negotiating Committee Meeting.

*2.*  Union demand for PL accumulation upto 300 days & it's encashment on retirement to be put before Main Committee.

*3.*  For Adoption of Child upto 1 yr ML agreed with certain conditions.

*4.*  Sabbatical Leave to all employees. The matter is left to individual banks.

*5.*  LFC : There will be improvement in distance permitted to Sub Staff.

*6.*  LFC : For Workmen employees travel by own car permitted. At par with provision for officers.

*7.*  LFC :  with package tour not permitted.

*8.*  Outsourcing : From the earlier clause " as per RBI guidelines to be done for non core activities." It is agreed to *remove words as per RBI guidelines.*

*9.*  OT : For simplified & improved method note is submitted by Unions. To be discussed further.

*10.* Punishment : For gross misconduct, *fine* as punishment may be removed.

*11.*  Ex Servicemen : Only the guidelines issued by "Dept of Financial Services" of Govt of India to be followed uniformly.

*12.* Unions wanted time gap between Business hours and Working hours should be 2 hours instead of present 1 hour. This demand was rejected outright by the IBA.

Whatever is accepted is subject to final approval at Main Committee level.

 Negotiations may take decisive turn during next meeting on *3 Dec, 2019.*

Vijaya Bank, Dena bank removed from second schedule of RBI Act

The Reserve Bank of India on November 28 said it has excluded Vijaya Bank and Dena Bank from the second schedule of the RBI Act, with effect from April 1, 2019.

"Vijaya Bank and Dena Bank have been excluded from the second schedule to the Reserve Bank of India Act, 1934 with effect from April 1, 2019, since they have ceased to carry on banking business with effect from April 1, 2019," RBI said in a notification.

The public sector lenders were merged into Bank of Baroda at the beginning of the current financial year and, hence, ceased to operate as banking companies separately.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger

Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query. 

Of this, 75 per cent of the affected branches belong to the country's biggest lender State Bank of India (SBI). 

To a query under the Right to Information (RTI) Act filed by a Neemuch-based activist Chandrashekhar Gaud, the Reserve Bank of India (RBI) informed that 26 PSBs of the country either closed or merged 90 branches during FY 2014-15, 126 branches in 2015-16, 253 branches in 2016-17, 2,083 branches in 2017-18 and 875 branches during 2018-19. 

The RTI information came out at a time when the Centre is planning to consolidate 10 PSBs into four mega state-owned lenders. 

According to RTI reply, the maximum 2,568 branches of the SBI were affected due to merger or closure in the last five financial years. 

The RBI informed that Bharatiya Mahila Bank, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore were merged with SBI with effect from April 1, 2017. 

In addition, the merger of Vijaya Bank and Dena Bank with Bank of Baroda came into effect from April 1 this year. 

Meanwhile, employee organizations of public banks have opposed to the government's new plan to consolidate the banking space. 

All India Bank Employees' Association (AIBEA) General Secretary C H Venkatachalam told PTI that at least 7,000 branches of these banks likely to be affected, if the government forms four big banks by out of the ten state-owned banks in the country. 

Most of these affected branches will be from the metros and cities. 

Venkatachalam expressed apprehensions that the proposed merger would decline the business of the PSBs concerned. 

It is generally seen that customers stop banking with the branch, once it was closed or merged with another one. 

However, economist Jayantilal Bhandari said that merger of PSBs is the need of the hour. 

"The state exchequer will benefit after creation of big banks by merging smaller public sector banks. 

In addition, the large state-run banks will be able to distribute relatively more loans to the common people due to their strong financial condition, which will spur the economic growth in the country," he said. 

TDS on Cash Withdrawal: New Income Tax notification details and who will be affected – Explaine

hdrawal.

The Ministry of Finance recently notified Form 26QD for TDS Return and Form 16D for TDS Certificate under section 194M and 194N of the Income Tax Act. Sameer Mittal, Managing Partner, Sameer Mittal & Associates LLP, breaks down details of the notification. Mittal told FE Online, “As per section 194M any individual or an HUF, which is not subject to tax audit and is not required to deduct TDS under section 194C, section 194H or section 194J and is making payment to any resident for carrying out any work, commission, brokerage or fees for professional service, shall deduct a sum equal to 5 per cent as TDS and deposit the amount with the Government.

As per the notification, the liability to deduct TDS will arise when the amount paid in one go or multiple instalments exceeds Rs 50 lakh. The TDS so deducted is required to be deposited within 30 days from the end of the month in which the deduction was made and shall be accompanied by a challan-cum-statement in Form 26QD, said Mittal.

Additionally, an individual is required to issue the TDS certificate to the deductee in Form 16D within 15 days from the due date for furnishing the challan-cum-statement in Form No.26QD.

Positiln of a common banker

I start working from 10 am .. sit in my seat and start attending the long queue of customers..After 2 hours  I stand up after sitting for more 2 continuous hours  ... Can anyone imagine how bad the knee hurts ? 

I drank 2 extra glasses of water today ..  I want to relieve myself  while there is crowd and  the customer in front says " Madam finish my work and go"...
I say Sir please give me few minutes ..
Evening I read a post on FB .. that says XBY employee take break when customers where in the queue .. now I think twice before drinking water in the mornings

It's 3.30 ... A senior citizen walks in front of my desk .. now should I tell him .. I haven't had my lunch yet or simply skip my lunch .. so that the Customer doesn't have to wait .. I decide to skip my lunch .. Evening i read a message on social media that is "supposedly" a joke about banker asking to come later ...

Now .. my question to the person who decided to mock a banker .. if you are from a corporate .. How many tea break did you take today .. rather how many fags was it to clean your lungs ?

If you are jobless .. come sit in the bank and wait for your turn .. Read the display boards and go to the correct counter .. so that I don't have to point out to you to go to the correct counter .

For that educated person. .. whose time is so precious that you don't want to spend 2 extra minutes in the bank .. Try INTERNET BANKING .

NOT EVERY BANKER IS LIKE THE JOKE YOU CRACK .. THERE THOUSANDS OF THEM WHO GIVE SERVICE BEYOND YOUR  IMAGINATION .

MAKING FUN OF A PROFESSION IS NOTHING LESS THAN BEING A RACIST .


From priya shreeram wall

New labour bill read details

*New labour bill*
----------------------------

The new Labour Code, which will be introduced in the Parliament in the ongoing winter session for approval, is going to hand companies a distinct advantage. Hiring and firing of contractual workers will be now much easier for the employers.

The Union Cabinet chaired by Prime Minister Narendra Modi gave its approval on November 20 for the introduction of the Industrial Relations Code, 2019 in the Parliament.

This code is meant to simplify and merge three central labour acts including The Trade Unions Act, 1926, The Industrial Employment (Standing Orders) Act, 1946 and The Industrial Disputes Act, 1947.

This code is an extension of a June decision where the Ministry of Labour took a stand to merge all the 44 labour laws into four codes, including industrial relations, wages, social security and safety, health and working conditions.

The Industrial Relations Code 2019, also called the Labour Code, is a set of draft rules aimed at simplifying the labour laws in the country.

This regulation is not just meant to simplify the existing rules on the type of employment but also to give equal footing to both, permanent and contractual workers.

The idea is to improve the working conditions of the contractual staff and bring them on par with the regular employees. From an HR perspective, this will mean that a company need not have multiple employment policies for contractual and regular staff.

Especially for areas like maternity leave and extended leave for mothers, a similar policy will be followed which would make the management process easier. In the past, leaves were a bone of contention between companies and labourers.

A crucial aspect of the new draft code is the fixed-term employment proposal that has also been welcomed by the industry. This will mean that the respective companies would not need to engage with any third-party contractors. Instead, under the new regime, they will be able to hire contract workers directly for a fixed tenure.

Based on the type of job role, the contract period can be tweaked making it easier for firms to hire and fire. Earlier, the contractors would play a role in these matters. Now, the employment period can be decided by the company itself. Later, if the particular job gets redundant, the worker can let go.

For instance, if a welding professional has been hired, and the company is able to procure a machine to perform the same function at a later date, this professional can be laid off. In the past, firing staff would lead to a dispute since there was no concept of a fixed-term employment.

At present, labour disputes take a long time to be resolved. The Industrial Relations Code has proposed setting up of a two-member tribunal for settling labour disputes. Earlier, there was a one-member team that led to delays in getting a resolution.

Further, a few government officers would also be given the power to look into cases and also impose penalties. This is expected to ease the burden on the tribunals that are already handling several thousand cases.

This will ease the pain for employees who otherwise lose pay while attending the often-prolonged tribunal hearings.

For workers, being relevant from a skilling perspective has been a cause of concern in India. Re-skilling of staff will be a key priority under the new regulations. The government has said that there will be re-skilling fund that will be utilised for crediting to workers.

Closely linked to reskilling is the fear of retrenchment. Due to machines replacing mundane roles, involuntary separation in factories has been a reality. While there was fear of only mid-sized companies (with 300 or more employees) being mandated to take government permission to retrench staff, the draft code has retained it for companies with 100 employees or above.

This means even if a small company/factory were to take a retrenchment decision, they would have to get prior permission from the government to do so.

As far as benefits are concerned, the draft code has said that set social security benefits will be extended to all types of workers. This means that all company benefits including insurance and leave encashment could be provided to these workers (contractual or temporary workers). Earlier, contractors would be passed on these benefits, and there were reports of leakage of cash/insurance amount.

Once this code gets a nod from both the houses of the Parliament, it will be drafted into a law. This will subsume all the existing rules used for defining employment contracts of staff.

(moneycontrol.com)
25.11.2019

How do you see the status of the economy now?

How do you see the status of the economy now?

The Indian economy is in recession though CSO data does not show that. My calculation is that the economy has contracted by at least one per cent in the last one year.

How did we come to this situation?

It started with Demonetisation. You see, the unorganised sector which employs 94 per cent of the country’s workforce and produces 47 per cent of the output was massively hit. This sector runs on cash. And before they could recover, they were again slammed by imposition of the GST regime. Though they could not benefit from input tax credit, they nonetheless ended up spending more after raw materials, etc. The NBFC crisis also hit this sector most. The problem has now spread from the unorganised sector to the organised sector.

Is the government alive to the situation?

I think they are aware of the problem but their solutions are wrong. When more money needs to be pumped into rural India in terms of heightened public investment in infrastructure, education, healthcare, telecom, etc, all interventions till now are on the supply side while the malaise lies with the demand side. Of what use will be a Rs 1.45 lakh crore tax break to the corporate sector, Rs 75,000 crore for bank recapitalisation or Rs 25,000 crore to the real estate sector to boost demand growth amongst the poorer sections linked with the unorganised sector?

So, you think the government’s dreams of a $5 trillion economy is unlikely to be realised?

They are not dreams, just words, just like those announcements of doubling farmer’s incomes by 2022 and pumping in Rs 100 lakh crore in infrastructure over the next five years were. Do you see any of that happening? These are just hollow words.

(Prof. Arun Kumar)
Professor (retired)
Centre for Economic Studies and Planning.

DIAMOND JUBILEE CELEBRATION OF OBCEAWB FOR FINANCIAL ASSISTANCE TO MERITORIOUS STUDENTS A GOOD JOB DONE BY UNION APPRECIATED BY ALL

EVE

Mamata slams PSU divestment, suggests all-party meet

Opposing disinvestment of Public Sector Undertakings, West Bengal Chief Minister Mamata Banerjee on Thursday said it could gradually lead to disinvestment of the country itself and urged Prime Minister Narendra Modi to consult experts and, if need be, call an all-party meeting on the issue.

"Disinvesting the public sector and using the money to manage the immediate crisis is not a permanent or the only solution. You need economic stability for a permanent solution, because otherwise the economic disaster will only intensify," Banerjee told mediapersons in Bahrampur of Murshidabad district.

The Chief Minister said the NDA government at the Centre was claiming it would get ₹1.76 lakh crore to ₹1.80 lakh crore from multiple disinvestments.

"But so many disinvestments may lead to disinvestment of the country itself. Then what will the central government be left with? How will the country be run? I feel these aspects should be seriously considered.
The Trinamool Congress supremo's remarks came a day after the cabinet Committee on Economic Affairs (CCEA) approved strategic disinvestment in five large public sector undertakings -- BPCL, CONCOR, SCI, THDC and NEEPCO -- along with change in management control in these companies.

Banerjee suggested the Central government hold consultations on the issue and consider everybody's opinion in a "positive sense".
"I think the prime minister should speak to experts in the country on this issue. If need be, there should be an all-party meeting, the Trinamool Congress supremo said.

"I think the prime minister should speak to experts in the country on this issue. If need be, there should be an all-party meeting, the Trinamool Congress supremo said.

Trinamool was against disinvestment, but believed there could be mergers which should protect the jobs of the officers and other staff, she said.

In this context, Banerjee expressed suspicion about the way the Central government in the name of merger, moved the headquarters of the state's lead bank UBI out of Kolkata.


"We found that in the name of merger of some banks, the headquarterS of UBI, the lead bank in Bengal, was moved away from the state. Now if such things happen, then what would be the future of the large number of schemes which operate through banks? We are suspicious about the move," she said.

Bank merger | Unions to stage dharna before Parliament on December 10

Various bank unions plan to stage dharna on December 10 in front of the Parliament to protest against the government decision to merger 10 public sector banks.

In August, the government announced its plan to merge 10 public sector lenders into four to create fewer and stronger global-sized banks.

"Government has been pursuing the policy of merger of public sector banks despite the adverse implications.

Experience of mergers in the country and elsewhere has clearly shown that no benefit accrues to any of the stake holder," bank union said in a statement.

The unions will stage dharna on December 10 in front of the Parliament, it said.

11th Bipartite Update* *21/11/2019*

*11th Bipartite Update*
*21/11/2019*

1.  For the first time IBA requested Unions to help them in finishing talks preferably within about a month. This is positive development for early settlement.

2.  Though idea of 5 day week is kept alive, it may not get green signal from Govt, RBI. No likelihood.

3.  Demand for improvement in family pension quantum is taken up with Govt by IBA. May materialise.

4.  Merger of Special Pay with Basic under consideration. It will have positive impact on terminal benefits.

5.  Soon data on 'cost of pension' to banks will be provided to Unions.

6.   There is 6 way pension as on date. To make it common by adopting common Index is on cards.

7.  Proposal to enhance NPS contribution to 14 % Is under consideration. It's as per Govt suggestion.

8.  Retirees can't afford high premiums of Medical Insurance. It was suggested to allow retirees to choose policies of lesser amt. say 1 or 2 lakh.

9.  IBA indicated that they may negotiate wage revision for all officers upto scale VII if unions agree for 'Variable Pay' in principle.

10.  IBA requested Unions not to insist for pay parity with Insurance or Govt employees. There is risk factor in business of Banking. Many banks are in deep losses.

11.  Banks are rescheduling working and business hours. Unions requested IBA to ask banks not to overburden staff in this regard. There should be sufficient gap btween closure of business hours and end of working hours. Extra timing to finish work is highly objectionable.


12.  IBA is requested to frame same rules for all banks in the matter of compensation to Officers for work done on Holidays.

13.  IBA promised to take up with Govt matter of GST on Medical Insurance Policies. It substantially inflats cost to retirees.

14. Proposal to accommodate those who are so far left out of Medical Insurance Scheme for retirees & their spouses, was put forth by unions.

15. PL accumulation and encashment on retirement to be hiked to 300 days is demanded by unions.

16. Rest of the issues to be discussed in subsequent small committee meetings

Are bankers are Slaves? See the circular

Are bankers are Slaves?There are so many factors for decline  in business parameters inspite of working hard and smart in getting new business.They should not generalise for all.

Wake up call for Comrade CHV

Friends ., my all readers this article I jyst forwarded here


15.11.2019


To,

All constituents of UFBU

Dear Mr. CH Vanktachalam,

Subject:        Wake up call for Comrade CHV: You are still GS of AIEBA: Talk like AIEBA: Maintain dignity of Five alphabets: There are just three alphabets in IBA:  Keep intact A & E with your union: Don’t delete A & E: Otherwise, you will have just three Alphabets IBA 

There is big difference between allegations and realities. Acceptance is the ability to unconditionally value the realities. Practice radical honesty, admit your own mistakes, own your outcomes, don’t let fear get in your way, Count on your competencies.

Being GS of AIBEA is a big opportunity but please try to be a union leader and not a business man. Please act in the interest of the employees/retirees and avoid using your energy in actions detrimental to the interest of its own members (old retirees & Employees getting retired during the next 1-20 years). 

Members have given mandate to CHV to redress their grievances but they never  gave any mandate to make public statements that the banks are not having sufficient level of pension funds for meeting the cost of revision of pension. Try to put yourself in the shoes of those old & poor retirees, who are getting meager pension of just Rs. 10,000/- to Rs. 15,000/- per month, which is not sufficient to take care of two times meals for elderly couples and Alas !!!!!!, some of them can afford only one time meal.

God has bestowed upon you all the luxuries of life but HE also provided you a heart, which is a place for kindness but your heart sounds to become emotionless & detached. All old & poor retirees can’t afford to have medical treatment, as your inaction has closed doors for them to obtain Medical insurance Policy. There have never been any efforts to seek welfare funds of banks for such old poor retirees & you have left them to die in this era of every increasing deceases & ailments.

DFS vide their letter dated 24.02.2012 provided an opportunity for the benefits of  the poor & old  retirees for obtaining medical insurance policy out of welfare funds of the banks but IBA snatched that opportunity and you as a leader of AIEBA could not prevail upon IBA to provide free medical facilities to poor retirees. Many poor retirees have died in the past and many more are dying for lack of medical treatment.

As GS of AIEBA, you failed miserably to analyze who stands in priority for obtaining free medical  insurance policy, whether serving employees earning salary of more than Rs. 1,00,000/- or poor retirees drawing meager pension of just Rs. 10,000/- to Rs. 15,000/-, without evaluating that  the old retirees are more vulnerable to medical risks than serving employees.

You have deliberately opted to earn wrath, anger and rage of poor retirees as you failed to hear the screaming of old & poor retirees. You have become like a businessman, who simply weighs, who is contributing money to your union, ignoring the suffering & incapability of old & poor retirees, who made you General Secretary of AIEBA. Your union is fleshed with huge funds but YOUR DIL MANGE MORE AND MORE and resultantly your detached heart is stopping you to think about the welfare of poor retirees, since they are no more your members.

IBA is a institution who has hired senior retired executives from banks, who after retirement are getting decent salary and comparatively handsome pension and these officials can’t feel the pinch of pain & sufferings of old poor retires and your action in joining hands with IBA is adding salt to the woes & miseries of poor retirees, when you openly declare in public meetings that revision of pension is not feasible, since pension funds are not adequate. You action is providing an ammunition to IBA to kill & slaughter old poor retirees.

You need to ponder over this issue again and ask yourself whether you have to lean towards old poor retirees or you have to connive & hatch up with IBA.  Your union has huge funds and you can easily hire one professional who can come out with a scheme to provide revision in pension of retirees in such a way that you are able to provide some comforts to old poor retirees. Even RBI approved scheme for its retirees for revision of pension in March 2019 and immediately thereafter there was circular from AIEBA to AIBRF to know whether banks want similar revision of pension and AIBRF responded for a similar type of revision of pension for bank’s retirees but that issue was later on buried by AIEBA with no valid reasons.

The Supreme Court of India in one of judgment dated 01.07.2015 has categorically given the verdict, which says that revision of pay scales and revision of pension are inseparable and this judgment is a blessed tool & ammunition for AIEBA in fighting with IBA. The judgment further says “That the judgment has recognized that revision of pension and revision of pay scales are inseparable. The Government can’t take the plea of a financial burden to deny legitimate dues of the pensioners. The judgment has recognized that revision of pension and revision of pay scales are inseparable. When pension is upheld to be a right and not a bounty, as a corollary to the aversion of pay scales is inseparable, up-gradation of pension is also a right and not a bounty”.

Now Wake up and fight for the cause of poor retirees, who needs your intervention Intercession and support. Where there is a will, there is a way!!!!!!!!!! . There will be no constraints & limitations in your way and if such impediments & hurdles come in your way use your ammunition against IBA, which is the real essence & distillate of unionism. Poor retires are not meant for un-natural deaths, they need your support.

Kind regards,



O.P.SHARMA

WOUNDED & INJURED RETIREE

Show quoted text

FOR INFORMATION OF THE MEMBERS OF BANK PENSIONERS ---------------------------------

🤣🤣🤣
FOR INFORMATION OF THE MEMBERS OF BANK PENSIONERS
----------------------------------------------------------------
BANK PENSIONERS SHOULD NOT EXPECT REVISION/UPDATION OF PENSION SINCE THE PSU BANKS PENSION REGULATIONS
1995 HAVE NO SUCH PROVISION FOR REVISION/UPDATION OF THE PSU BANKS RETIREES PENSION. IN SPITE OF
SEVERAL COMMUNICATIONS TO THE UFBU LEADERS PARTICULARLY TO THE GENL.SECRETARY OF THE LARGEST UFBU
CONSTITUENT AIBEA WHICH CLAIMS TO BE THE CHAMPION FOR INTRODUCTION OF PENSION IN THE BANKS BY THIS BLOG
MEMBER URGING TO DEMAND FOR AMMENDMENT OF THE PSU BANKS PENSION REGULATIONS AFTER SEVERAL HIGH COURTS
REJECTED THE DEMAND FOR UPDATION OF PENSION ON THE GROUND THAT THERE WAS NO SUCH PROVISION FOR UPDATION
OF PENSION IN THE PENSION REGULATION WHICH WAS SIGNED BY THE UNIONS WITH THE IBA IN 1993 AND
IMPLEMENTED BY THE BANKS w.e.from 1995. FROM THE HIGH COURTS RULINGS IT IS CLEAR THAT UNLESS THERE IS
SPECIFIC REGULATION IN BLACK & WHITE FOR UPDATION OF PENSION THE BANKS ARE NOT BOUND TO ACCEDE THE
DEMAND FOR UPDATION OF PENSION. THE UFBU LEADERS PARTICULARLY THE AIBEA HAS DONE IMMENSE OF HARMS TO
THE PENSIONERS BY NOT DEMANDING FOR INCORPORATION OF THE PROVISION FOR UPDATION OF PENSION WHEN THEY
NEGOTIATED FOR INTRODUCTION OF PENSION WITH THE IBA. IT SEEMS THE AIBEA/UFBU LEADERS HAVE ENTERED INTO
SECRET UNDERSTANDINGS WITH THE BANK MANAGEMENTS-IBA FOR THEIR PERSONAL GAINS TO DUPE THE RETIREES IN
EVERY POSSIBLE WAY AND DUE TO THIS UNDERSTANDING WE THE RETIREES HAVE BEEN MADE FOOLS/DISCRIMINATED IN
MANY MATTERS viz.
1.THE RETIREES HAVE BEEN COMPELLED TO PAY EXHORBITANT MEDICAL INSURANCE PREMIUMS.
2.PRE 2002 RETIREES HAVE BEEN DEPRIVED OF PAYMENT OF 100% D.A. NUTRALISATION DUE TO OBJECTION BY THE
NEGOTIATING UFBU LEADERS.
3.THOUGH THE IBA INITIALLY AGREED TO REVISE/UPDATE PENSION BY APP.3 TO 4% OUT OF THE FINANCIAL PACKAGE
THE IBA OFFERED DURING Xth BIPARTITE AGREEMENT IN 2015 DUE TO THREATENINGS BY THE THEN AIBOA GENL.
SECRETARY THE IBA HAD TO WITHDRAW THE PROPOSAL. SURPRISINGLY THE AIBOA GENL.SECRETARY THREATENED THE
IBA NEGOTIATING TEAM "HOW COULD THE IBA PROPOSE TO UPDATE PENSION WHEN THERE IS NO PROVISION FOR
UPDATION OF PENSION IN THE PENSION REGULATIONS?"
4.DUE TO ONE OF THE UFBU CONSTITUENT NCBE'S OBJECTION THE BOB VRS OPTEES HAVE BEEN DENIED FROM JOINING
THE BOB WELFARE SCHEME OF CONTRIBUTORY MEDICAL ASSISTANCE SCHEME IN THE BOB.

LEADERS OF THE RETIREE ASSOCIATIONS MR.K.V.ACHARYA/RAMESH BABU OF CBPRO and MR.S.C.JAIN OF AIBRF ARE
ALSO AWARE OF THE UFBU LEADERS UNHOLY NEXUS WITH THE IBA-BANKS MANAGEMENTS AND HENCE THEY WILL NOT BE
VOCAL NOR THEY WILL EXPOSE THE UFBU LEADERS SUCH HEINOUS ACTIVITIES FOR THE RETIREE LEADERS PERSONAL
INTEREST.

Debasish Mukherjee,
Retiree- Bank of Baroda,
Member- Bankpensioner@Googlegroups.com

--

BIPARTITE TALKS DETAILS AS ON 15-11-2019

Bipartite Talks

Another round of negotiations for 11th Bipartite settlement took place on 15th Oct 2019 at Mumbai. Representatives of 9 constituents of UFBU were present.

In matter of Performance Linked Incentive UFBU gave in principle approval. On our behalf we expressed our opposition to introduction of PLI. The Chairman of the Negotiating committee expressed that IBA will go by majority opinion. IBA sought suggestions of UFBU on the modalities. It was proposed by UFBU that PLI be incorporated as a separate agreement. IBA clarified that proposed scheme of PLI will be applicable only to public sector banks and for private banks it will be optional for the member banks.

IBA assured that the mandate issue would be taken up for covering all Officers upto Scale VII.

In regard to merger of Special Allowance with Basic Pay, IBA narrated about the impact on costs for superannuation benefits and suggested a lesser percentage than 7.75% may be merged to keep the cost lower. UFBU insisted for merger of entire Special Allowance. The cost narrated by IBA needs to be verified. There was no progress in the matter of loading of 2%  after merger of DA with BP, offered by IBA.

IBA agreed to share actuarial calculation on cost requirement for improvement in family pension and pension revision as well. In this regard IBA also agreed to share data on pension with actuary recommended by UFBU. In the matter of NPS, IBA responded positively to increase banker’s contribution to 14%.

On the issue of Mediclaim Policy for retirees, UFBU proposed to consider a separate scheme as per suitability to keep the premium amount affordable. It was also suggested that a portion of the premium should be borne by banks.

IBA did not come up with any improved offer from its earlier offer of 12% increase. They expressed their desire to complete the negotiation within a short period. IBA stated that they would come up with their revised offer of wage increase considering the overall cost involvement in the final stage of talks. On behalf of UFBU, it was reiterated that 12% increase is unacceptable.

On behalf of UFBU, we insisted for introduction of 5 day week. The matter will be discussed later.

UFBU once again raised the issue of Ex-gratia for pre-1986 retirees and requested for substantial increase as the amount is very meagre. The issue of increase in accumulation and encashment of Privilege Leave to 300 days and 270 days respectively was taken up in the negotiation. IBA will examine the cost involvement.

It was decided that meetings of the Small Committees for Officers and Workmen will be held to concretise non-financial issues on 21st and 28th of this month respectively. 

The UFBU will meet on 28th Nov 2019 afternoon at Mumbai.